LendingClub (NYSE:LC) PT Set at $15.50 by Piper Sandler

Key Points

• Piper Sandler raised its price target on LendingClub from $13.00 to $15.50, indicating a potential upside of 2.18% from the last closing price, and currently holds an "overweight" rating on the stock.
• Recent earnings show that LendingClub reported $0.33 EPS, significantly surpassing estimates of $0.15, with revenues of $248.44 million, up 14.1% year-over-year.
• Insider trading activity includes CEO Scott Sanborn selling 5,250 shares, reducing his ownership slightly while 74.08% of the stock is held by institutional investors and hedge funds.

LendingClub (NYSE:LC - Get Free Report) has been assigned a $15.50 price objective by stock analysts at Piper Sandler in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the credit services provider's stock. Piper Sandler's target price would indicate a potential downside of 0.58% from the stock's previous close.

Several other research firms have also recently issued reports on LC. Stephens assumed coverage on LendingClub in a research report on Thursday, June 12th. They set an "overweight" rating and a $15.00 target price for the company. Keefe, Bruyette & Woods increased their target price on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Citizens Jmp assumed coverage on LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. Citigroup assumed coverage on LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. Finally, Wall Street Zen cut LendingClub from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.57.

LendingClub Stock Performance

Shares of NYSE:LC opened at $15.59 on Wednesday. The stock has a 50 day moving average of $11.93 and a 200 day moving average of $11.76. The company has a market cap of $1.78 billion, a PE ratio of 24.36 and a beta of 2.46. LendingClub has a 12-month low of $7.90 and a 12-month high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.18. The business had revenue of $248.44 million for the quarter, compared to analysts' expectations of $227.04 million. LendingClub had a return on equity of 5.66% and a net margin of 8.36%. The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. Equities research analysts predict that LendingClub will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $12.98, for a total transaction of $68,145.00. Following the completion of the transaction, the chief executive officer owned 1,283,175 shares in the company, valued at $16,655,611.50. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew Labenne sold 17,955 shares of LendingClub stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $16.65, for a total value of $298,950.75. Following the completion of the transaction, the chief financial officer owned 178,111 shares of the company's stock, valued at approximately $2,965,548.15. This represents a 9.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,205 shares of company stock valued at $601,561. Company insiders own 3.31% of the company's stock.

Institutional Trading of LendingClub

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its stake in LendingClub by 1,427.2% in the first quarter. Quarry LP now owns 2,810 shares of the credit services provider's stock worth $29,000 after purchasing an additional 2,626 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in LendingClub in the first quarter worth approximately $35,000. Comerica Bank bought a new position in LendingClub in the fourth quarter worth approximately $37,000. Sterling Capital Management LLC raised its stake in shares of LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after acquiring an additional 3,119 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock worth $66,000 after purchasing an additional 2,448 shares in the last quarter. Institutional investors own 74.08% of the company's stock.

About LendingClub

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.